Property sales across the Central North Island region totaled 52 in the month, representing a slight fall off on a seasonally adjusted basis in July but was up a significant 33% as compared to a year ago. The inventory of unsold houses fell back to 74 weeks to sit below the long-term average of 82 weeks of equivalent sales.

Median sales price for properties sold across the whole of the Waikato / Bay of Plenty region at $305,100 was flat compared to a year ago, but down on the prior month. The asking price expectation of new listings in the Central North Island was down 5% as compared to a year ago at $346,925.

The level of new listings coming onto the market in July at 139 was up a healthy 22% as compared to a year ago and almost matched the month of June with 140 new listings.

This data indicates that the Central North Island region is fairly active with strong and consistent sales levels over the past year. Prices are stable and inventory is tightening which could apply some pressure in the market unless new listings continue to flow onto the market in the coming months.